United Technologies Buy Rockwell Collins in Multi-Billion Dollar Aerospace Deal
It's the biggest deal in the history of aerospace
United Technologies will buy airplane parts maker Rockwell Collins (COL) for $23 billion, or $140 a share, the companies announced on Monday. The deal is expected to close in the third quarter of 2018.
"This acquisition adds tremendous capabilities to our aerospace businesses and strengthens our complementary offerings of technologically advanced aerospace systems," said United Technologies chairman and CEO Greg Hayes.
The deal comes after a report recently suggested that a large activist hedge fund manager, possibly Third Point LLC's Dan Loeb, has been accumulating a big United Technologies stake and has put the avionics and industrial company on the defensive in an effort to have it spin off non-core businesses.
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